Using 1984 as the base year, the Federal Reserve has calculated a CPI of 10.9 for 1916 and a CPI of 12.8 for 1917. Given this information, which of the following is true?(1 point)
Responses
The inflation rate in 1917 was approximately 17%
.
The inflation rate in 1917 was approximately 17 percent .
The inflation rate in 1917 was approximately 11%
.
The inflation rate in 1917 was approximately 11 percent .
The inflation rate in 1917 was approximately 13%
.
The inflation rate in 1917 was approximately 13 percent .
The inflation rate in 1917 was approximately 1.9%
.
1 answer
The correct response is: The inflation rate in 1917 was approximately 17%.
1 answer